The Federal Housing Administration extended the deadline for submitting comments on the draft HECM Handbook through January 31, 2022. Details were announced in FHA Info #21-113. The draft … more HUD Extends HECM Handbook Comment Period
HUD
NRMLA Submits Comments to HUD on LIBOR Transition
In comments submitted to the Department of Housing and Urban Development this week, NRMLA provided answers to 14 questions posed by HUD in an October 5 notice pertaining to … more NRMLA Submits Comments to HUD on LIBOR Transition
HECM Loan Limit Increased to $970,800 in 2022
The Federal Housing Administration will increase the maximum claim amount for Home Equity Conversion Mortgages in calendar year 2022 from $822,375 to $970,800 effective for case numbers assigned … more HECM Loan Limit Increased to $970,800 in 2022
FHA Updates Appraisal Guidelines to Reduce Racial Bias
The Federal Housing Administration published Mortgagee Letter (ML) 21-27 to reinforce the agency’s commitment to preventing racial bias in the valuation of single family properties. The ML clarifies FHA’s … more FHA Updates Appraisal Guidelines to Reduce Racial Bias
FHA Annual Report: Economic Value of HECM Portfolio Improves By $4.3B
The Home Equity Conversion Mortgage portfolio saw a significant improvement in its net present value over the past year and is now positive for the first time since … more FHA Annual Report: Economic Value of HECM Portfolio Improves By $4.3B
HUD Extends HECM Handbook Comment Period
Today, the Federal Housing Administration extended the review and feedback period for the draft HECM Handbook through December 31, 2021. The draft sections were posted for feedback on … more HUD Extends HECM Handbook Comment Period
NRMLA Vetting Draft HECM Handbook
Several working groups have been formed and are busily convening and discussing the draft HECM Handbook that the Department of Housing and Urban Development released late last month. … more NRMLA Vetting Draft HECM Handbook
HUD Seeks Industry Feedback on LIBOR Transition
On October 5, 2021, the Department of Housing and Urban Development published an advance notice of proposed rulemaking in the Federal Register (FR), Adjustable Rate Mortgages: Transitioning from … more HUD Seeks Industry Feedback on LIBOR Transition
FHA Provides More Relief for HECM Borrowers
To assist homeowners who are still struggling to meet the requirements of their Home Equity Conversion Mortgage, the Federal Housing Administration is providing up to 12 months of … more FHA Provides More Relief for HECM Borrowers
HECM Handbook Posted to Drafting Table
The Federal Housing Administration posted the draft Home Equity Conversion Mortgage (HECM) Origination through Servicing sections of its Single Family Housing Policy Handbook 4000.1 (Handbook 4000.1) for stakeholder … more HECM Handbook Posted to Drafting Table